Wear and Tear Exclusion(redirected from Wear and Tear Exclusions)
Wear and Tear Exclusion
In insurance, a category prohibiting payment on claims for normal wear and tear, which is the degrading of the quality of an item that is expected over time. Because this decline in value is inevitable, insurers will not pay for these losses.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved